North Eastern Carrying Corporation Ltd.
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ABOUT
AI Sector View
AI GENERATEDServices
Broad services remain in expansion. Services PMI was 54.1 (Aug/26), export of services grew 13.0% YoY (2026-06), and urban employment was still positive at 2.0% YoY (2026-07), although airport passenger traffic was -2.0% YoY (2026-06). FPI inflows of INR 7081 crore over 3 months to 2026-08-31 support the constructive sector view.
PROS
- Company has delivered good profit growth of 40.2% CAGR over last 5 years
CONS
- Operating cash flow has been negative in recent years
- A large part of profit comes from other income (59.1% of PBT)
- Company has a low return on equity of 4.6% over last 3 years
- Company has a low return on capital employed of 6.8%
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -2.94x)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| CONCOR | 505.80 | 31.02 | 38522.64 | 1.70 | 268.90 | 0.61 | 2159.76 | 0.28 | 13.63 | 20.41 |
| DELHIVERY | 451.00 | 361.29 | 33793.18 | 0.00 | 31.91 | -64.96 | 2930.73 | 27.76 | 2.97 | 4.75 |
| SHADOWFAX | 255.05 | 133.96 | 14964.56 | 0.00 | 654.00 | 6732.86 | 13581.20 | 1806.32 | 11.58 | 6.76 |
| BLACKBUCK | 585.40 | 63.17 | 10664.07 | 0.00 | 42.17 | 25.14 | 204.17 | 42.17 | 12.75 | 24.35 |
| TCI | 856.45 | 14.41 | 6580.20 | 1.17 | 106.60 | -0.56 | 1248.50 | 9.58 | 20.52 | 12.30 |
| TVSSCS | 128.95 | 87.86 | 5689.58 | 0.00 | 22.48 | -96.84 | 3335.22 | 28.66 | 11.51 | 6.75 |
| VRLLOG | 231.45 | 18.87 | 4048.92 | 0.00 | 805.30 | 1509.31 | 8788.40 | 1080.70 | 26.47 | 21.23 |
| MAHLOG | 399.70 | 103.12 | 3968.12 | 0.63 | 27.83 | 394.81 | 2002.88 | 23.29 | 10.40 | 5.76 |
| SINDHUTRAD | 23.81 | 47.44 | 3671.33 | 0.00 | 38.74 | -79.39 | 129.21 | -21.85 | 12.80 | 45.34 |
| GATEWAY | 53.58 | 10.96 | 2677.09 | 6.07 | 512.68 | 724.44 | 5492.97 | 897.94 | 17.99 | 21.31 |
| TCIEXP | 535.25 | 24.95 | 2057.72 | 1.31 | 20.49 | 5.24 | 313.40 | 9.29 | 13.92 | 10.03 |
| NECCLTD | 19.43 | 45.79 | 203.04 | 0.00 | 2.01 | 13.03 | 75.59 | 9.38 | 6.18 | 5.93 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 84 | 74 | 86 | 92 | 78 | 82 | 81 | 88 | 69 | 71 | 72 | 96 | 76 | |
| 79 | 69 | 79 | 87 | 70 | 75 | 76 | 86 | 64 | 68 | 65 | 94 | 74 | |
| Operating Profit | 5 | 5 | 6 | 5 | 8 | 7 | 5 | 2 | 5 | 3 | 7 | 2 | 2 |
| OPM % | 5.66% | 6.51% | 7.54% | 5.17% | 9.79% | 7.99% | 6.56% | 2.84% | 7.70% | 4.01% | 9.20% | 2.23% | 2.15% |
| 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 3 | 1 | 2 | 2 | |
| Interest | 2 | 2 | 3 | 2 | 2 | 2 | 2 | 1 | 2 | 2 | 2 | 2 | 2 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before Tax | 2 | 2 | 3 | 3 | 5 | 4 | 3 | 1 | 2 | 3 | 5 | 1 | 3 |
| Tax % | 25.50% | 45.24% | 18.77% | 3.69% | 30.23% | 28.61% | 33.22% | -112.05% | 25.83% | 31.32% | 27.37% | 18.60% | 38.88% |
| Net Profit | 1 | 1 | 3 | 3 | 4 | 3 | 2 | 2 | 2 | 2 | 3 | 1 | 2 |
| 0.30 | 0.16 | 0.26 | 0.30 | 0.38 | 0.29 | 0.20 | 0.18 | 0.18 | 0.19 | 0.34 | 0.08 | 0.18 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 548 | 385 | 343 | 376 | 231 | 250 | 306 | 335 | 329 | 308 | 315 | |
| 528 | 369 | 328 | 359 | 221 | 235 | 286 | 314 | 306 | 290 | 301 | |
| Operating Profit | 20 | 16 | 15 | 17 | 10 | 15 | 20 | 21 | 23 | 18 | 13 |
| OPM % | 3.57% | 4.05% | 4.33% | 4.64% | 4.18% | 6.11% | 6.57% | 6.32% | 6.86% | 5.79% | 4.21% |
| 1 | 1 | 1 | 2 | 2 | 0 | 0 | 2 | 1 | 6 | 8 | |
| Interest | 9 | 7 | 6 | 7 | 7 | 6 | 8 | 9 | 8 | 10 | 9 |
| Depreciation | 3 | 3 | 3 | 3 | 3 | 4 | 3 | 3 | 3 | 3 | 3 |
| Profit before Tax | 9 | 6 | 7 | 9 | 1 | 6 | 9 | 10 | 13 | 11 | 12 |
| Tax % | 37.82% | 35.55% | 35.49% | 27.02% | -21.05% | 25.13% | 38.60% | 21.11% | 21.36% | 27.34% | 30.90% |
| Net Profit | 6 | 4 | 5 | 6 | 1 | 4 | 6 | 8 | 10 | 8 | 8 |
| EPS | 1.12 | 1.12 | 0.90 | 1.27 | 0.28 | 0.85 | 1.15 | 0.84 | 1.03 | 0.78 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- -5%
- 5 Years:
- 6%
- 3 Years:
- 0%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 3%
- 5 Years:
- 40%
- 3 Years:
- 10%
STOCK PRICE CAGR
- 10 Years:
- -6%
- 5 Years:
- 1%
- 3 Years:
- -3%
- 1 Year:
- -7%
RETURN ON EQUITY
- 10 Years:
- 5%
- 5 Years:
- 5%
- 3 Years:
- 5%
- Last Year:
- 3%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 95 | 100 | 100 |
| 28 | 32 | 37 | 43 | 45 | 49 | 55 | 99 | 119 | 127 | |
| 83 | 54 | 72 | 76 | 86 | 101 | 119 | 103 | 106 | 124 | |
| Trade Payables | 2 | 2 | 3 | 6 | 4 | 4 | 3 | 3 | 6 | 4 |
| 13 | 15 | 20 | 24 | 11 | 13 | 16 | 16 | 14 | 16 | |
| Total Liabilities | 176 | 154 | 182 | 199 | 196 | 217 | 243 | 316 | 344 | 372 |
| 18 | 19 | 20 | 17 | 14 | 13 | 14 | 13 | 8 | 24 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5 | 5 | 9 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 120 | 125 | 130 | |
| Cash & Bank | 4 | 5 | 6 | 6 | 6 | 8 | 8 | 21 | 16 | 10 |
| 154 | 130 | 155 | 176 | 176 | 196 | 221 | 157 | 186 | 200 | |
| Total Assets | 176 | 154 | 182 | 199 | 196 | 217 | 243 | 316 | 344 | 372 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 36 | -10 | -1 | -11 | -8 | -12 | -46 | -21 | -9 | |
| Cash from Investing | -3 | -3 | -4 | -0 | 0 | -2 | -3 | -6 | -2 | -16 |
| Cash from Financing | 5 | -30 | 19 | 4 | 10 | 15 | 18 | 65 | 17 | 19 |
| 0 | 1 | 1 | -0 | -0 | 2 | 0 | 13 | -6 | -6 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-11 - North Eastern Carrying Corporation Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 10, 2026. Further, the company has informed the Exchange regarding voting results.
2026-09-10 - North Eastern Carrying Corporation Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 10, 2026
2026-09-03 - North Eastern Carrying Corporation Limited has informed the Exchange about General Updates - clarification in relation to Annual General Meeting Notice circulated on August 14, 2026 and Corrigendum issued thereto.
2026-09-03 - North Eastern Carrying Corporation Limited has informed the Exchange about General Updates - Disclosure under Reg. 7(2)(b) of SEBI(PIT) Regulations, 2015
2026-08-29 - North Eastern Carrying Corporation Limited has informed the Exchange about General Updates
2026-08-26 - North Eastern Carrying Corporation Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-25 - North Eastern Carrying Corporation Limited has informed the Exchange regarding Corrigendum to the Notice of Annual General Meeting to be held on September 10, 2026
2026-08-21 - North Eastern Carrying Corporation Limited has informed the Exchange that Record date for the purpose of Annual General Meeting is 03-Sep-2026.
2026-08-18 - North Eastern Carrying Corporation Limited has informed the Exchange about Copy of Newspaper Publication
News
Recent coverage and analyst commentary for NECCLTD
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North Eastern Carrying Corporation Ltd.
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